Sun Pharma expands domestic footprint with US$28.7M Innovcare Lifesciences acquisition

INDIA—Sun Pharmaceutical Industries will acquire Innovcare Lifesciences for Rs2.71 billion (US$28.7 million) in an all-cash deal, enhancing its presence in key healthcare segments in India.

According to a regulatory filing, Sun Pharma will purchase the entire issued and outstanding share capital of Innovcare Lifesciences and expects to complete the transaction on or before July 31, 2026.

Once the deal closes, Innovcare will become a wholly owned subsidiary of Sun Pharma.

Expanding presence in pharmaceuticals and consumer healthcare

Mumbai-based Innovcare Lifesciences operates across the Indian market and focuses on marketing, distributing, and selling pharmaceutical products, nutraceuticals, and cosmeceuticals.

The company has built a growing presence in these segments, making it an attractive addition to Sun Pharma’s portfolio.

Innovcare has also reported steady revenue growth in recent years.

For the financial year ending March 2026, the company generated operational revenue of Rs 940 million (US$10.0 million).

This followed revenue of Rs860 million (US$9.1 million) in FY2024–25 and Rs809 million (US$8.6 million) in FY2023–24.

Sun Pharma said the acquisition aligns with its objective of broadening and strengthening its product offerings.

The company noted that the transaction is not a related-party deal and confirmed that neither its promoters nor members of the promoter group hold any stake or interest in Innovcare Lifesciences.

It also stated that no government or regulatory approvals are required to complete the acquisition.

Part of a broader growth strategy

The Innovcare acquisition comes as Sun Pharma continues to pursue significant growth opportunities both in India and internationally.

In April 2026, the company signed a definitive agreement to acquire US-based healthcare company Organon in an all-cash deal valued at US$11.75 billion.

Under the agreement, Organon shareholders will receive US$14 per share. The transaction is expected to strengthen Sun Pharma’s position in women’s health, biosimilars, and established branded medicines while expanding its global footprint.

Created as a spin-off from MSD, known as Merck & Co. in the United States and Canada, in 2021, Organon markets more than 70 products across women’s health, biosimilars, and general medicines in over 140 countries.

Sun Pharma has said the acquisition will help create a stronger global platform and position the combined business among the world’s top 25 pharmaceutical companies by revenue.

Regulatory progress for Ilumya

Alongside its acquisition activities, Sun Pharma continues to advance its specialty medicines portfolio.

Earlier this year, the US Food and Drug Administration accepted the company’s supplemental biologics licence application for review for Ilumya (tildrakizumab-asmn) as a treatment for adults with active psoriatic arthritis.

The filing represents another milestone for Sun Pharma as it seeks to expand the approved uses of its biologic therapy and strengthen its position in immunology and specialty care markets.